Millennials: A New Generation of Home Buyers

August 1, 2018

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As Millennials move into their 20’s and 30’s and become the largest age group of homebuyers, they are changing the face of America’s communities. Their preference in home design and their high expectations regarding technology will leave its mark for decades and promises to revolutionize what Americans expect from their homes.

WHAT THEY LOOK FOR

Millennial buyers are looking for smart, stylish homes that keep families connected. In a world where everything syncs up automatically, homebuyers are demanding a new level of technology from their homes. In the end, home design and function, more than size, are the top motivating factors for Millennials*. The majority of homebuyers prefer a “Modern Traditional” style, which is a traditionally built home that has a minimalist feel, and is restructured for the way we live now - with open floor plans, clean sight-lines, and connected family spaces.

DESIRED FEATURES

Smart technology integrated into the design of a home is the wave of the future and current homeowners that are looking ahead should take note. A home is no longer just about having a place of personal retreat and comfort. There is a much higher value placed on how well a home can serve and entertain family and friends. An outdoor living space is especially desirable for new homebuyers. Also, having updated outdoor lighting is important and is an easy fix for homeowners.

A report released this year by Lendingtree, ranking the popularity of American cities for Millennial homebuyers, listed Fort Wayne, Indiana as number 5 across the nation. Northeast Indiana is an appealing place to settle down for Americans.

This year, Fort Wayne was ranked in the top 10 most affordable cities for homebuyers in the US by SmartAsset.

If you are a interested in buying or selling a home, the Realtors® of Mike Thomas Associates have their finger on the pulse of the region. With expert advice and years of experience we are here to help. Call today!

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